InvestMate 💶💵 EUR/USD From a Broader Perspective 💶💵

💶💵 EUR/USD From a Broader Perspective

💶💵 Nearest strong support zone: around the 0.382 fibo level of the downward wave.

💶💵 Nearest strong resistance zone: around recent peaks.

💶💵 Technical environment:

📊 Moving averages: 50/50

📊 MACD: Uptrend

📊 RSI: Uptrend

💶💵 Price Action: This time I wanted to present to you the EUR/USD from a slightly broader perspective which, in my opinion, opens your eyes to what may happen in the future. As you can see from the last candle, we have completed the upward rally that was initiated after less than two years of price rallying downward. In my opinion, after executing such a strong rebound, the prospect of executing a correction in a market that not so long ago scored one of the most dynamic downward waves in recent times seems very likely. At first glance, we are thrown by two support zones that have also been respected in the past. It looks like the coming weeks will bring us a struggle for investors to establish future support levels before the next upward wave. Which, in my opinion, will come with further interest rate hikes by the European central bank.

📉 The scenario I'm playing out is the execution of a downward correction and the accumulation of price before further increases. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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